Ramoil Wholly-Owned Subsidiary Jump Automotive Experts Inc. Acquires Maxpower Inc.

LAS VEGAS, Dec. 31 -- Ramoil Management Ltd. announced today that it has completed its first automotive acquisition under it's wholly-owned subsidiary company, Jump Automotive Experts Inc. ``JUMP'' has acquired 100 percent of privately held Maxpower Inc. for $30.4 million in stock and cash, (3 million shares of RAMO, $400,000 cash). The cash portion is to be used for expansion.

Maxpower is located in Santa Paula, California and is a nationwide manufacturer of premium automotive aftermarket hard parts such as chrome- plated and powder-coated starters, alternators, waterpumps, valve covers, and air cleaners. Maxpower is a supplier to the mass merchandisers and the high performance markets where products are purchased by street rod people, and racers who require the high performance starters, etc. New product lines are planned for the year 2002.

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